GM,
Wishing everyone a prosperous late year of the Dragon 🐲. Due to my wife giving birth yesterday, this week's article will be postponed until Thursday, and the podcast on Wednesday will proceed as usual. Once things settle down this week, the articles will resume on Tuesday next week.
GM, Issuing stablecoins was once the most profitable business in the world. All an issuer had to do was deposit U.S. dollars in a bank, mint stablecoins for users, and then sit back collecting U.S. Treasury yields—true “sleep income.” With this model, Tether and Circle have effortlessly
GM, Taiwan’s banking sector has moved onto the blockchain. Last week, I invited Cathay Financial Holding for a recording session¹, where two guests, Cynthia and Jenny, pointed out that the draft Virtual Asset Service Act announced by Taiwan’s Financial Supervisory Commission in March was the key turning point.
GM, Last week, payment giant Stripe and crypto venture firm Paradigm officially announced that they would jointly launch Tempo, a Layer 1 blockchain dedicated to payments. This marks the fourth major case of a large corporation building its own blockchain, following stablecoin issuers Tether and Circle 1, as well as
GM, Last month, in my article “To Chairman Jui-Bin Tung: EasyCard Is Not a Stablecoin, Here’s the Key Difference”, I discussed the fundamental distinctions between EasyCard and stablecoins. I made the piece public, hoping it could serve as a foundation for Taiwan’s conversation around stablecoins. Since its publication,